your greatest challenge is finding a spouse that share the same financial value, and willing to accept the quality of life that the budget allows. admirable work in planning out your life at your age to this detail, but don't forget to live a little and aspire for a better quality of life in the process. there is a limited life span to your peak earning potentials, don't obssess about retiring early but utilise your peak phase to amass wealth for whatever life can throw at you that can derail everything.
@@AaronSurvivinginSingapore that's great. i think you are in tech, just be wary not to get dislodged from your current work that seems to be paying quite well. a few years away and you might have difficulties trying to get back.
I believe this will be the base plan for your retirement as you will likely see some increased expenditure in coming years. And you will still be very driven at 28 so I think you will continue to work haha! But our plan is very similar, and I am also 26, good luck!
Hi Aaron, appreciate your ambition to retire at 28. I would like to point out to you that if you are expecting to get 190k grant for house, it means 1) your spouse is also a SC, 2) you are living with parents to get 30k proximity grant, 3) (most critical) your household income is less than $1500/mth. With income of $1500/mth, you eligible loan will only be about $85k. So if you want to buy a $674k property, minus 190k grant, minus $85k loan, your downpayment will have to be 399k, which is entire of your savings that you intend to put in dividend stock. I appreciate your effort in doing the sums. Good luck
1.) yeah thats why i put (UP TO) in the video. I really dk how much my wife would be getting. 2.)I'm not sure about the 30k proximity one cos HDB website live with parent/CHILD. So i think I can apply for it after I have a child. 3.) I wont have high income after retirement. IRAS would put me in the self-employed category for bloggers/creators. So now the problem is the eligible loan. So really gotta wait for the wife then see how HAHA 🤭 Appreciate the feedback! thank you!
don't forget to factor in the cost when your child falls sick, especially in this age when infants fall sick almost every single month.. that'll rack up your expenditure too!
@AaronSurvivinginSingapore the sg resale housing price now and the price when you want to buy will be very different. Back in 2019, I was aiming for a 5 room flat, which 700k is more than enough. Today, it can easily hit 900k - 1mil. Your target will be more realistic if it's a BTO (assuming you get it today) and retire by the time it TOP. That's just one of the issues here.
it's a good plan to set out your 'base case', so no real criticism. the only thing I'd say is that you and your family really has to be comfortable with this sort of humble living for the entirety of your lives, not ever wondering or wanting a taste of the luxuries that you can see other people enjoy (like going US/Europe for holidays, lower end luxury goods, etc.) fairly sure you're smart and capable enough to upgrade it as you go along. note also that a lot of uncertainty comes with kids - especially say they have special needs, or illness arises. if your goal is to be a full time youtuber btw, you should take advantage of the fact that you aren't attached yet, and move to a place with low housing expense - could be the digital nomad route in neighbouring countries, or even consider a cheaper flat in the more 'ulu' parts of singapore.
Yeah i plan to slowly grow my dividend income to accommodate u forseen circumstances in the future. And this base case also planned for $2400 for holidays a year already ;)
@@AaronSurvivinginSingapore I thought you wanted to experience life overseas? Depending on where you move to, the hdb flat can usually support the rent there. That was what my family did for four years in London.
Hey bro I am 40 years old I am in the Philippines I am still building my retirement, you are very lucky you are in the rich country I can see you are well educated person too. You'll figure what is the best for you in next 10-20 years I like you mentioned your back up plan in retiring in other SEA Country to maximize your retirement funds i think culturally and geographically Malaysia is best for you to retire but if you want more American/Spanish culture Philippines i think is best for you we have 7000 islands to explore your money is x41 way better you will live more than comfortable here & a lot of professionals here move for work in your country still building for retirement too I actually looking to move there for work for say next 5 years and bring back the money earn and invest here in our country. You will do good too if you are going to stay in SG and figure out how you can partime work or do business to even you are retire.. or maybe like a lot of my SG clients in real estate business there you can own properties for more passive income and retire at 30/35/40 good luck...
Hmm haha retiring in SEA country is not my backup plan. The real backup plan is live with parents hahaha. Yeah i wanna visit Philippines too. Ive only been to clark
Lol, sorry to burst your bubble but your projections are WAY off! You'll need a LOT more to retire at 28. Here's a tip...you haven't even factored in the high body corporate/strata fees/ costs for living in an apartment building. As the building ages, those costs will skyrocket, expecially if there are elevators in the building. You have also not factored in your haalth insurnce or medical costs for you and your family, which will also go much higher and more frequent as you age. It you 'retire' now based on your current numbers, you'll end up broke or having to go back to work twice as hard. Recommend you do much more research.
Hmm im basing this on seedlys 50% -80% percentile of Singaporean expenditure leh. But yeah there might be unexpected costs next time but ill just be resoursceful a tackle them when they come. Like pick up a side hustle or sell a few items
Suggest u watch his video more carefully. His spending is like few hundred dollar a month. Sometime with zero dollar spending for 1 month. 🤣🤣 With the passive income and if he know how to invest wisely. Definitely no issue for his finances and early retirement.
@@AaronSurvivinginSingapore you're missing the point. He can talk all he likes about his projected income but it's completely irrelevant when he's not factorered in all his expenses correctly. He has even factored in property and income taxes.He needs to seriously revisit his expenses.
@AUNZAnon yeah thats what im trying to calculate to find out how much is needed. Im always revisitng my calculations to make it more precise! In the video i also asked if i had missed out anything. So thanks for letting me know!
You may have worked out mathematically how to retire at 28 young man, but think of the quality of life you will be living. I wish you success but as a father of 2 teens, please don’t include kids in this risky endeavor.
your greatest challenge is finding a spouse that share the same financial value, and willing to accept the quality of life that the budget allows.
admirable work in planning out your life at your age to this detail, but don't forget to live a little and aspire for a better quality of life in the process.
there is a limited life span to your peak earning potentials, don't obssess about retiring early but utilise your peak phase to amass wealth for whatever life can throw at you that can derail everything.
Yea i plan to increase my income sources even after retirement too!
@@AaronSurvivinginSingapore that's great. i think you are in tech, just be wary not to get dislodged from your current work that seems to be paying quite well. a few years away and you might have difficulties trying to get back.
I believe this will be the base plan for your retirement as you will likely see some increased expenditure in coming years. And you will still be very driven at 28 so I think you will continue to work haha! But our plan is very similar, and I am also 26, good luck!
Yes im also planning to increase my dividends per month to accommodate more situations too ;)
Hi Aaron, appreciate your ambition to retire at 28. I would like to point out to you that if you are expecting to get 190k grant for house, it means 1) your spouse is also a SC, 2) you are living with parents to get 30k proximity grant, 3) (most critical) your household income is less than $1500/mth.
With income of $1500/mth, you eligible loan will only be about $85k. So if you want to buy a $674k property, minus 190k grant, minus $85k loan, your downpayment will have to be 399k, which is entire of your savings that you intend to put in dividend stock.
I appreciate your effort in doing the sums. Good luck
1.) yeah thats why i put (UP TO) in the video. I really dk how much my wife would be getting.
2.)I'm not sure about the 30k proximity one cos HDB website live with parent/CHILD. So i think I can apply for it after I have a child.
3.) I wont have high income after retirement. IRAS would put me in the self-employed category for bloggers/creators. So now the problem is the eligible loan. So really gotta wait for the wife then see how HAHA
🤭
Appreciate the feedback! thank you!
Appreciate your effort 👍🏼💪🏼💪🏼💪🏼😊
good point
Something to think about: Short or long-term migration is not cheap and there are restrictions on visas too.
Yeah the visas aren't cheap. But well see how it goes😁
don't forget to factor in the cost when your child falls sick, especially in this age when infants fall sick almost every single month.. that'll rack up your expenditure too!
Hmm yeah but this isnt a monthly occuring cost
please do a video in 2 years time, want to have another laugh 🤣🤣
If you can really survive with what you have projected, then good for you. But it's not very realistic in my opinion.
Oh oh which part? 5-6k dual income is at sg median expenditure alr tho
@AaronSurvivinginSingapore the sg resale housing price now and the price when you want to buy will be very different. Back in 2019, I was aiming for a 5 room flat, which 700k is more than enough. Today, it can easily hit 900k - 1mil. Your target will be more realistic if it's a BTO (assuming you get it today) and retire by the time it TOP. That's just one of the issues here.
it's a good plan to set out your 'base case', so no real criticism. the only thing I'd say is that you and your family really has to be comfortable with this sort of humble living for the entirety of your lives, not ever wondering or wanting a taste of the luxuries that you can see other people enjoy (like going US/Europe for holidays, lower end luxury goods, etc.)
fairly sure you're smart and capable enough to upgrade it as you go along. note also that a lot of uncertainty comes with kids - especially say they have special needs, or illness arises.
if your goal is to be a full time youtuber btw, you should take advantage of the fact that you aren't attached yet, and move to a place with low housing expense - could be the digital nomad route in neighbouring countries, or even consider a cheaper flat in the more 'ulu' parts of singapore.
Yeah i plan to slowly grow my dividend income to accommodate u forseen circumstances in the future. And this base case also planned for $2400 for holidays a year already ;)
After marriage and buying a flat and before you have kids, you can consider renting out 2 rooms.
Oh gd idea! But main goal is to find gf first haha
@@AaronSurvivinginSingapore In fact after MOP, can rent out whole apartment and use rental money to support living overseas.
Then i still have to buy a house overseas 😅
@@AaronSurvivinginSingapore I thought you wanted to experience life overseas? Depending on where you move to, the hdb flat can usually support the rent there. That was what my family did for four years in London.
@@wailingyeoh6882 whole family lIving in London based on your HDB rentals ?
Hey bro I am 40 years old I am in the Philippines I am still building my retirement, you are very lucky you are in the rich country I can see you are well educated person too. You'll figure what is the best for you in next 10-20 years I like you mentioned your back up plan in retiring in other SEA Country to maximize your retirement funds i think culturally and geographically Malaysia is best for you to retire but if you want more American/Spanish culture Philippines i think is best for you we have 7000 islands to explore your money is x41 way better you will live more than comfortable here & a lot of professionals here move for work in your country still building for retirement too I actually looking to move there for work for say next 5 years and bring back the money earn and invest here in our country. You will do good too if you are going to stay in SG and figure out how you can partime work or do business to even you are retire.. or maybe like a lot of my SG clients in real estate business there you can own properties for more passive income and retire at 30/35/40 good luck...
Hmm haha retiring in SEA country is not my backup plan. The real backup plan is live with parents hahaha. Yeah i wanna visit Philippines too. Ive only been to clark
Lol, sorry to burst your bubble but your projections are WAY off! You'll need a LOT more to retire at 28. Here's a tip...you haven't even factored in the high body corporate/strata fees/ costs for living in an apartment building. As the building ages, those costs will skyrocket, expecially if there are elevators in the building. You have also not factored in your haalth insurnce or medical costs for you and your family, which will also go much higher and more frequent as you age. It you 'retire' now based on your current numbers, you'll end up broke or having to go back to work twice as hard. Recommend you do much more research.
Hmm im basing this on seedlys 50% -80% percentile of Singaporean expenditure leh.
But yeah there might be unexpected costs next time but ill just be resoursceful a tackle them when they come. Like pick up a side hustle or sell a few items
Suggest u watch his video more carefully. His spending is like few hundred dollar a month.
Sometime with zero dollar spending for 1 month. 🤣🤣
With the passive income and if he know how to invest wisely. Definitely no issue for his finances and early retirement.
@@AaronSurvivinginSingapore you're missing the point.
He can talk all he likes about his projected income but it's completely irrelevant when he's not factorered in all his expenses correctly. He has even factored in property and income taxes.He needs to seriously revisit his expenses.
@AUNZAnon yeah thats what im trying to calculate to find out how much is needed. Im always revisitng my calculations to make it more precise! In the video i also asked if i had missed out anything. So thanks for letting me know!
There's an income ceiling for EHG though, so calculation for downpayment might need refinement
Yup retired wont have income alr. But not sure if dividend income counts? So should be getting full grant hopefully.
Hmm, if no income how to get loan though? Since MSR is capped at 30% of monthly income.
To service $2427/month, it would require approximately $8090 monthly income
Hmm i better ask hdb if dividend income is counted or not :) otherwise cannot buy bto 🥲
Wa siao ok liddat means must find rich wife liao 🫠
You may have worked out mathematically how to retire at 28 young man, but think of the quality of life you will be living. I wish you success but as a father of 2 teens, please don’t include kids in this risky endeavor.
Why risky? Im planning to hit the median expense for singaporeans 🤷♂️